Capital accelerates disbursement of public funds

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As of November 10, the disbursed amount of public funds in Ha Noi stood at VND22.35 trillion (US$965.35 million), meeting 57.5% of the target set by the Government. To further accelerate the disbursement progress in the remaining months of the year, Ha Noi has set up six task forces specialized in this regard.

The fulfillment of the disbursement target of public funds in Ha Noi, which accounts for 10% of total public investment in Viet Nam, would help ensure the realization of the country’s disbursement target, seen as a key solution to boost economic recovery amid the COVID-19 pandemic.

For the public investment plan in 2021, Director of Ha Noi’s Department of Planning and Investment Nguyen Manh Quyen said the local authorities would identify priorities for investment and submit them to the municipal People’s Council in the upcoming meeting session in December.

The allocation of state fund is aimed to realize Ha Noi’s socio-economic development plan and the overall planning, with a focus on national projects or those with high impacts to the local economy.

Priority would be given to projects that are set to be finalized in the 2016 – 2020 period but still fall short of funds; projects financed by official development assistance (ODA) or preferential loans from foreign donors; major projects during the 2021 – 2025 period; among others.

Specifically, Ha Noi would focus on transportation projects, aiming to boost inter-provincial and urban linkages, and information and technology, among others.

In August, PM Nguyen Xuan Phuc warned officials would face disciplinary actions if their ministries and localities fail to realize their respective disbursement targets of public investment funds for this year. The government targets to disburse the full amount of VND630 trillion (US$27.26 billion) to aid economic recovery, and the progress as of September met 57.15% of the target./. 

By Kim Anh